Released on May 10, 2002
Continuing challenges on the agriculture front had their impact in April onan otherwise strong economy, according to job figures released today.
Statistics Canada figures show an increase of 6,300 jobs (seasonally
unadjusted) over April of the previous year in sectors outside of
agriculture. The drop in agricultural employment resulted in a small
decline of 1,100 in overall employment from the figure for April, 2001.
There were 464,300 people working in the province last month, according to
StatsCan figures.
"Today's job numbers underscore some of our key challenges in agriculture,
which result from a severe drought, late spring and the overall drop in
commodity prices, " Industry and Resources Minister Eldon Lautermilch
said. "We're working with other governments to address agriculture's
challenges, and we have reason for optimism in how other sectors of our
economy are performing."
Job numbers increased in construction, services, retail and wholesale
trade, finance, real estate and public administration. Other indicators
also showed increases, with retail and department store sales, new motor
vehicle sales, urban housing starts and new business incorporations all up.
Lautermilch also noted Moody's upgraded the province's credit rating this
week to the third highest in the nation, indicating confidence in the
fundamental strength of the Saskatchewan economy. The Globe and Mail says
Saskatchewan will have the third highest GDP per capita in Canada this year.
Saskatchewan had the third lowest unemployment rate in Canada at 6.6 per
cent in April (seasonally unadjusted), unchanged from last year, and well
below the national rate of 8 per cent. Regina had the second lowest
unemployment rate at 5.8 per cent among major Canadian cities.
"Our job numbers will continue to fluctuate from month to month, and right
now those numbers are showing the impacts of a changing and challenged
agriculture sector," Lautermilch said. "Our economy is still moving
forward, though, through diversification into more and more value-added
industries. That diversification, combined with our program of investments
in key infrastructure, sustainable tax cuts and sound fiscal management,
will help us seize new opportunities and create more jobs for Saskatchewan
people."
-30-
For more information, contact:
Bob Ellis
Industry and Resources
Regina
Phone (306) 787-1691